The United Services Automobile Association (USAA) is a Texas-primarily based diversified monetary companies group of firms which features a Texas Department of Insurance coverage regulated unincorporated, reciprocal inter-insurance coverage change and a Fortune 500 monetary providers firm providing banking, investing, and insurance coverage to individuals and households that serve, or served, in the US navy. On the finish of 2011, there have been eight.eight million members. 2.5 million of the entire of eight.four million members have been subscribing members who’ve about $7–eight every on deposit with the trade to ensure its monetary capabilities. The corporate reported a surplus [not Net Worth] of $19.three billion in 2011.
USAA was founded in 1922 by a gaggle of U.S. Army officers to self-insure one another after they have been unable to safe auto insurance coverage as a result of notion that they had been a excessive-threat group. USAA has since expanded to supply banking and insurance coverage companies to previous and current members of the Armed Forces and their quick households.
The corporate was one of many pioneers of direct advertising and most of its enterprise is performed over the Web or phone utilizing staff as a substitute of brokers.